"But it doesn't mean that he's always right," he said. "That's the point I'm trying to make.

"You know, when you sell short, you're wrong a hell of a lot of times."

Pressed on the fact that Chanos has done well for himself, Icahn added, "I do think so. Well, I shouldn't really say I think so because I have no damn idea. But he sounds pretty good when I listen to him. I haven't talked to him personally for a long time. But I'm not here to fight with Chanos."

Trader disclosure: On May 10, 2013, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Steve Weiss is long HIG; Steve Weiss is long EEM; Steve Weiss is long SODA; Steve Weiss is long AAMRQ; Steve Weiss is long LCC; Steve Weiss is long UAL; Steve Weiss is long ESRX; Steve Weiss is long THC; Steve Weiss is long CYH; Steve Weiss is long BBRY; Steve Weiss is long AIG; Steve Weiss is long QCOM; Steve Weiss is long C; Steve Weiss is long BAC; Stephanie Link is long AAPL; Stephanie Link is long GS; Stephanie Link is long JPM; Stephanie Link is long CSCO; Stephanie Link is long FB; Stephanie Link is long ESV; Enis Taner is long GS; Enis Taner is long AAPL CALLS FLY; Enis Taner is long NEM CALLS; Enis Taner is long UUP; Enis Taner is long FXE PUTS; Enis Taner is long FXA PUTS; Enis Taner is long VIX CALLS; Simon Baker is long AAPL; Simon Baker is long C; Simon Baker is long JPM; Simon Baker is long WFC; Simon Baker is long SBUX; Simon Baker is long FB; Simon Baker is long MSFT; Simon Baker is long GOOG; Simon Baker is long AIG; Simon Baker is long HPQ.